International marketing is generally synonymously used with Global Marketing. International marketing has been defined in very different way by number of marketing experts. In general international marketing means to explore business application and marketing principles to more than one country.
Due to technological revolution and growing world economy it has opened up the ways for businesses to trade in other countries. Many European authors have argued international marketing as minor extension of exporting, while International marketing enables organization to make decision of one or more marketing mix across national boundaries. As per the definition given by Cateora and Ghauri in 1999 International Marketing is a way of performance of business activities which enables the flow of company's goods and services to consumers or users in more than one nation for a business gain.
It is necessary to keep attention of various environmental factors, economical factors, political influences and legal factors while trading with other countries and expanding the business boundaries out of nation. These are primary factors which would affect your business activities and business decision while selling and delivering same products and services to consumers in different countries. The taste, style, culture, tradition, values and believes of people often makes a big factor in international marketing.
One first needs to understand language barrier and economic circumstances to apply whole marketing mix in particular country other than the national. It affects your cost in transportation, taxation and also a competition from local players and people taste and needs. Companies are globalizing and exploring their market and so competition arise at international level. Technology has made communication and transportation less expensive then ever before. Consumers are now in better position to choose best products from different countries. There is obvious comparative advantage for companies which enters in the markets of other countries – either by way of advanced technology or with the help of lower cost advantage.
One needs to consider currency down turns and government policies to make necessary decision on marketing mix of product. There should be proper analysis and understanding of country’s wealth and legal influences to businesses running over there. Technology they offer and culture of country becomes more important to build effective marketing strategies for the companies while trading globally. There is need of cross culture market research before entering into market of the other country.
In general all above factors are equally important while you go for international market and put your product in service of more then one country.